Office equipment supplier Takkt has acquired Sweden-based reseller Runelandhs for SEK174 million ($19.8 million).

Headquartered in Kalmar, Runelandhs employs around 20 people and sells office equipment in the Nordics region. Its product range includes around 15,000 SKUs which are distributed using a multichannel approach. The firm has been owned by US-based Brady Corporation since 2012.

Runelandhs is forecast to generate sales of over SEK145 million and an EBITDA margin of 12%-15% for the 2017/2018 financial year, which ends in July.

The company will become part of Takkt Europe’s KAISER+KRAFT division and merge with its OP brand Gerdmans which offers a similar product range, but with a stronger focus on office furniture.

Takkt CEO Felix Zimmermann commented: “With its complementary product range, attractive customer base and profitable growth, Runelandhs is an ideal bolt-on acquisition for KAISER+KRAFT group’s existing activities in the Nordics. Through its merger with Gerdmans, Takkt also wants to harness synergy potential, for example by improving purchasing conditions and broadening the product range.”

Zimmermann also plans to improve purchasing conditions and product availability by using the centralised Gerdmans warehouse, an approach Runelandhs has not used before.

Runelandhs Managing Director Sven Hansson will remain in his role and oversee operations. The transaction is expected to close on 31 May.